cbaccam23

Old Debt Collection Judgement Help Needed!

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Hello All,

Need some advice regarding a situation I'm in...

I used to live in Iowa and had a judgement against me for some old credit cards that I didnt pay off.

They had garnished my wages for 2-3yrs. I moved to Chicago and the garnishments have stopped for the last 5yrs because I moved and switched jobs.

I'm just receiving something from the debt collection agency stating I owe some crazy amount now. They tried contacting my old employer to discover assets and my old employer did not answer them.

Now there is a court date for a motion for entry of a final judgment for failure to answer third party citation to discover assets.

Does anyone know what this means and what I can do, if anything to fight this???

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Basically they have a judgement that wasn't satisfied, so they are forcing you into court to find out what you have they can take to satisfy the judgement.  They already have it. If you have lived in another state, you can look into how long a creditor has to collect on a judgement, but usually they get 10-20 years in most states. Your best option would be to make out a settlement agreement with them.  They have the judgement- so they may not be open to negotiations, but you might be able to work out a payment arrangement that fits you better than if they just garnish your wages, or get a lein on property, etc.  It grows when you don't pay because they get interest on the amount-- x that by 5 years and it can really add up.

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The court originated in Wisconsin, was executed in Iowa when they garnished my wages for a few years and now I live in Illinois. 

Does that matter as far as the time they have to collect?

Yea, I'm thinking of calling and trying to settle, the amount is a little less than $7k.  Is there a certain percentage they'll usually settle for?  I dont remember the original amount that the judgement is for, but it way less than what it is now :(

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If it's less than 10 years, I wouldn't waste my time- if they have filed for garnish in the past, and they have filed now for discovery of assets, no court in the country would recognize it as being out of statute- they would view it as you trying to run the clock lol. They might settle for less, but only if it was a lump sum payment. Good luck.

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